Eastern Libya, U.S. firm close to signing Libya port deal - REUTERS

JULY 6, 2019 / 12:53 AM
Ulf Laessing, Ayman al-Warfalli

TUNIS/BENGHAZI, Libya (Reuters) - Eastern Libyan authorities and U.S. security firm Guidry Group plan to finalize an agreement to develop a major port in the east of the troubled oil producer, both sides said.

Talks have been going on for about a year to build a port in Susah, which would mark a rare sign of investment in Libya. Most of the country has been in chaos since the toppling of Muammar Gaddafi in 2011.

“The Guidry Group and the State of Libya through the Sea Port Authority officially signed the concession agreement on May 13 for the development of a multi-purpose, deep sea port in Susah, Libya,” the Guidry Group said in a statement to Reuters.

“Next steps for the project will involve establishing all the technical, financial, operational and commercial requirements,” the firm said.

Salah Elhasi, head of the eastern port authority, said no final deal had been signed yet but 90 percent of work was done.

“We are in the final stage of the agreement. ...and are reviewing the agreement’s details,” he said.

Energean to Buy EDF Oil & Gas Assets for Up to $850 Million - BLOOMBERG

July 4, 2019, 2:55 PM GMT+3

Yaacov Benmeleh and Francois De Beaupuy

• Deal opens up access to areas in North Africa, Italy, Croatia
• Transaction is company’s first major acquisition since listing

Energean Oil & Gas Plc agreed to buy the oil and gas business of Electricite de France SA’s Italian unit for as much as $850 million, a deal that will substantially broaden the Greek company’s geographic footprint.

Energean will pay $750 million upfront for operational assets in Egypt, Italy, Algeria, the North Sea and Croatia, according to a statement on the Tel Aviv Stock Exchange, one of two bourses where its stock trades. It’s Energean’s first major acquisition since listing in London last year, and will significantly expand its production and revenue streams.

The Greek company is also acquiring assets under development in Egypt, Italy and Norway. It may pay an additional $100 million following first gas from the Cassiopea development off Italy.

Egypt Announces New Oil Discovery in Sinai - EGYPT OIL & GAS

Thursday, 4th July 2019

Belayim Petroleum Company (Petrobel) has achieved a new oil discovery in the Abu Rudeis concession area in Sinai, Egypt Oil & Gas reports.

Petrobel drilled an exploration well through which it was able to reach a 35-meter layer of sedimentary rocks and a 65-meter layer of limestone rocks, where production began using current facilities at the concession area, the Ministry of Petroleum and Mineral Resources announced.

The company has laid out a plan to drill 10 developmental wells with a crude oil production rate of around 3,000 barrels per day (b/d) and plans to enhance production using hydraulic fracturing, according to the report presented to the Minister of Petroleum, Tarek El Molla, by Petrobel Chairman Atef Hassan.

The new discovery represents a milestone for Petrobel since the Abu Rudeis field is one of the oldest in Egypt, dating back to 1957.

According to the ministry, these positive results have encouraged the foreign partner to pump more investments into various concession areas.

US efforts to start Israel-Lebanon maritime border talks ‘failed’ - Report - THE JERUSALEM POST

July 3, 2019 23:50 

Herb Keinon

Acting Secretary of State David Satterfield’s efforts to get Israel and Lebanon around a negotiating table to discuss marking their maritime border has failed, according to Lebanese reports on Wednesday.

Satterfield, who was confirmed last Friday as Washington’s ambassador to Turkey and could be making his last visit to the region trying to deal with the maritime border issue, met in Beirut on Tuesday with Lebanese Foreign Minister Gebran Bassil and House Speaker Nabih Berri.

According to these reports, Satterfield told his Lebanese interlocutors that Israel has refused their request for UN sponsorship of the talks, and their demands that the discussions should deal not only with the maritime border but also the land border as well.

Israel and Lebanon have a dispute over an 860 sq. km. area that includes several blocs rich in natural gas.

One of the key sticking points holding up the launch of the negotiations has been whether they will be open ended – Lebanon’s demand – or whether there will be a six-month deadline, Israel’s position.

Lacking Regulatory Approval, Israeli Gas Fields Postpone Commercial Streaming to Egypt - THE ALGEMEINER

Noble Energy Interests

JULY 1, 2019 10:50 AM

Lior Gutman / CTech

CTech – The Tamar Gas Consortium, responsible for operating one of Israel’s largest natural gas fields — Tamar — has postponed the commercial streaming of gas to Egypt by several months, several people familiar with the matter who spoke on condition of anonymity told Calcalist.

Following Calcalist’s Hebrew report on Monday morning, Israeli energy company Delek Drilling, one of the major partners in the Tamar Consortium, filed a statement with the Tel Aviv Stock Exchange saying that commercial streaming to Egypt will begin by the end of 2019 from Israel’s largest gas field Leviathan. Delek said the delay is due to high demand for natural gas locally, which would exhaust Tamar’s resources in the near future.

According to a $15 billion deal with Egyptian company Dolphinus Holdings, signed by Tamar and the consortium operating Leviathan in February 2018, the two fields will provide Egypt with 64 billion cubic meters of gas over a 10 year period. Commercial streaming was scheduled to start by the end of the second quarter of 2019.

EMG gas pipeline to Egypt passes flow tests, targets end-year startup - PLATTS

01 Jul 2019 | 16:32 UTC
Lucie Roux, Editor: James Burgess

London — East Mediterranean Gas has successfully completed gas flow tests from Tamar's field in Israel, and exports to Egypt are expected to start by the end of the year, Israeli partner Delek Drilling said Monday.

"Today's announcement confirms that the technical side is now complete and the pipeline is now ready to handle up to 7 Bcm a year," a spokesman from Delek told S&P Global Platts.

Exports via EMG, together with the incremental production from BP's West Nile Delta and Eni's Zohr projects, should allow Egypt boost its LNG exports by the end of 2019.

The project's partners -- US-based producer Noble Energy, Delek Drilling and Egyptian-owned Sphinx EG -- have been working to bring the EMG back into service, with a reverse flow capability from the Leviathan field to Egypt, the spokesman said.

Medserv Cyprus awarded logistics contract by Total - MEDSERV

01/07/2019

Earlier today Medserv announced that Medserv (Cyprus) Limited has been awarded a contract by Total E&P Cyprus to provide Shore Base Logistics services for drilling activities taking place offshore Cyprus.

The contract duration is for a firm period of one year with options to extend. Medserv (Cyprus) Limited will provide these services from its facilities in the port of Limassol. The award of this contract makes Total the third major International Oil Company to be working with Medserv in Cyprus, another major step to broaden the Group’s oil and gas client portfolio within the Eastern Mediterranean region.

Eni and Total are lining up a multi-well drilling programme off Cyprus. The drilling is expected to begin by the end of this year or early 2020. The two European majors plan to drill five wells, with one probe in each of five blocks.

Egypt wants to almost quadruple the value of natural gas exports to USD 2 bn in FY2019-2020 - ENTERPRISE

Monday, 1 July 2019

Egypt wants to almost quadruple the value of natural gas exports to USD 2 bn in FY2019-2020: The government is looking to export 12 mn tonnes of natural gas worth USD 2 bn in FY2019-2020, compared to USD 580 mn in the past year, the local press reported, citing an unnamed EGAS source. Egypt is seeking to increase average daily exports to 1.56 bcf/d through LNG terminals in Idku and Damietta, and the Jordan pipeline. Natural gas exports averaged 500 mcf/d in FY2018-2019.

Higher gas production equals more gas to export: Additional gas flows from Zohr and other fields in the Mediterranean will allow energy companies to meet their supply obligations for the government and export the surplus, the official said.